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A virtual data room could be used by companies to share confidential documents with third parties. This could happen in a variety of scenarios, such as due diligence during mergers or acquisitions or fundraising by private investors or restructuring, or bankruptcy. Whatever the situation is, the documents should be secured and easy to navigate, manage, and accessible at any moment.

A VDR with the ability to grant granular permissions to documents will ensure that only the appropriate users have access to the correct files, at the appropriate time. The ability to establish specific access policies on documents and folders also reduces the chance of human error, like accidental deletions or the oversharing of. A trustworthy virtual dataroom will also include other security measures to safeguard information. These include the encryption of documents that are at rest siloing, digital watermarking siloing on private cloud servers, 2-factor authentication, accident redemption and more.

Additionally, a good VDR has a strong support for users. Many VDR users work with various stakeholders across the country or around the globe. The work doesn’t always stop when the clock strikes 5pm on the West Coast. A good VDR provider will offer 24/7 assistance and be able assist in any way particularly in the technical aspects of navigating and managing the platform. Inquiring about customer service as well as security features will help you determine if an VDR is the right fit for your business. This will help you choose the right VDR for your company and will make the process easy.